The federal income tax code contains a long and complex list of tax deductions—ways of reducing the amount of income on which you need to actually pay taxes. Many argue that the code should be simplified by eliminating many of these tax deductio...

1. Sort your students into small groups and give them five minutes to decide what sort of business they would like to open. It must be a two-person operation; they must hire one—but only one—employee. 2. Provide your students with copi...